Student Credit Cards

When I was in college, I attempted to sort of game the credit card system... and it worked, recently, when I rented an apartment, they checked my credit, and found that my credit was about 780. It's so ridiculously high for a young guy like me that they didn't even ask me to put down a security deposit. It was awesome.

The key to understanding credit cards is knowing that credit checks and such sit on your account for only 4 years. If you apply for some student credit cards as a freshman, by the time you graduate, you'll have 1) established good credit, and 2) you'll have no record of your credit scheming. It's pretty awesome.

Not only that, since credit cards have rewards, you can accumulate some good ones if you are strategic about picking a good card. Check out some of these student credit card reviews. These were incredibly helpful for me when I was trying to figure out which credit cards to apply for as a student.

Purchasing a resort in Queensland

After recently graduating from the University, I was excited to begin a new career in the accommodation industry.

I made a bunch of money my first year working on my own as a marketer and I decided to purchase a holiday resort in the Queensland area, as there were a number of nice holiday letting complexes available.

The first thing I did was to contact a local resort broker in the area to get an idea of what was involved in the purchase of a resort. He helped me to decide how much I would need to invest and how much financing would be available to me. The broker asked me questions about whether I preferred river or canal complex, a beachfront position, or maybe a complex for garden enthusiasts. I did not have enough capital to buy the place outright, but found that many banks are very willing to give loans to entrepreneurs, because there is usually a guaranteed income/cash flow. The resorts available for purchase are established with a yearly average income.

Aside from the purchase of a property, is the purchase of management rights. These can also be purchased separately. This is the business of on-site caretaking and letting of the units or townhouse complexes. It provides for a permanent, long term caretaker of the common property (gardens, pools, etc) on site, As well as an on site letting service if needed.

I also found that a number of properties that had the management rights for sale. The owner retained ownership of the property, but a person or company who bought the management rights would have considerable leeway in running the resort. The management keeps everybody happy. The guests, unit owners, the staff, the maintenance etc. Since I wanted to retain all rights to the property, I needed to hire a management team, to oversee running the resort.

Although it seemed a bit overwhelming at first, my resort broker was wonderful, he really helped and walked me through everything. He put me in touch with some reputable management companies that had good track record history,and I felt comfortable with the one I chose. My broker was involved in many aspects of the sale and transfer process, he made sure that all the parties involved with the sale met their deadlines as necessary, and made sure that the purchase of the resort was very smooth and hassle free. My very first resort purchase went well, and I am really happy with the end result.

Could an IVA help me if I lost my job?

Life isn't easy when you're worried about your job security and worried about your debts. A lot of people in this situation will be wondering what they could do if the worst comes to the worst and they end up unemployed. How would I manage my debt payments? What would I do if I couldn't? Could an IVA help me if I lost my job?

Unfortunately, an IVA (Individual Voluntary Arrangement) is extremely unlikely to be the answer in a case like this. Most IVAs require the person to make regular monthly payments all the way through - in most cases, that would mean for five years. Someone who's lost their job would be unlikely to be able to commit to that.

If their salary had dropped, however, an IVA might help. If they've had to take a pay-cut, or seen their overtime / bonus fall, an IVA might be able to help if they can't keep up with their debt payments anymore. Or if they lost their job but found another one quickly - but at a lower salary - an IVA might be the best way for them to tackle their debt problems.

Just remember that an IVA isn't an easy way out of debt. Those monthly payments aren't the only thing to take into consideration. There's also the impact on their credit rating (an IVA is a form of insolvency) and the fact that they might have to release equity from any property they own so they can pay more to their unsecured lenders.

A lot of people who've run into serious financial problems and aren't able to commit to making monthly payments might be better off thinking about entering bankruptcy or a DRO (Debt Relief Order). It isn't easy to figure out which one is the most appropriate, so it's vital they talk to a professional before they commit themselves to any particular approach - or rule anything out.

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